SOURCE: AFI
Cochin Shipyard Limited (CSL), India’s premier shipbuilding and repair company, is actively weighing joint venture (JV) options with global shipbuilding majors to fuel its ambitious expansion plans. As announced by Madhu S. Nair, Chairman and Managing Director, on the sidelines of ongoing industry engagements in early 2025, CSL is in advanced discussions with technical providers in Korea to establish high-quality block fabrication facilities and implement cutting-edge systems and processes. This strategic move, spotlighted during the International Defence Exhibition (IDEX) 2025 in Abu Dhabi (February 17-21), underscores CSL’s intent to elevate its capabilities and cement its position as a global maritime powerhouse.
CSL’s outreach to international partners comes at a pivotal moment for India’s maritime sector, which commands less than 1% of the $140 billion global shipbuilding market despite the nation’s 7,000 km coastline and growing economic clout. With an order book exceeding ?22,000 crore—encompassing 65 vessels, including 14 naval ships and 22 coastal ships for European clients—CSL is poised to capitalize on surging global demand for modern and green vessels. However, as Madhu S. Nair emphasized, the company’s existing infrastructure, while robust, requires enhancement to meet the accelerated turnaround times demanded by its new ?1,800-crore dry dock in Kochi, operational since January 2024.
“We are exploring technical collaborations with shipbuilding majors for brownfield expansion,” Nair told BusinessLine. “Talks are already on with providers in Korea for high-quality block fabrication facilities along with requisite systems and processes.” South Korea, home to industry leaders like HD Hyundai Heavy Industries, Hanwha Ocean, and Samsung Heavy Industries—which collectively secured orders worth over $22 billion in 2024—offers a blueprint for CSL. These discussions aim to bolster CSL’s capacity to produce large merchant vessels, such as LNG carriers and Capesize ships, leveraging Korean expertise in modular block fabrication—a method that enhances efficiency by pre-assembling ship sections.
South Korea’s dominance in shipbuilding, accounting for roughly 30% of global orders alongside China and Japan, makes it an ideal partner. A high-level Indian delegation, including Nair, visited Korea in December 2024 to explore advanced technologies, touring facilities like HD HHI in Ulsan. This followed engagements with Korean firms like Hanwha Ocean, which met with CSL and other Indian shipyards in late 2024 to discuss potential collaborations. Nair’s focus on Korea reflects a strategic alignment with India’s Maritime India Vision 2030 and Amrit Kaal Vision 2047, which aim to rank India among the top 10 shipbuilding nations by 2030 and top 5 by 2047.
The proposed JV would likely center on establishing a large fabrication facility in Kochi, supplementing CSL’s existing setup, which Nair noted is insufficient for the rapid construction of large vessels. “The new dry dock is ready to construct large merchant ships, but we need enhanced block fabrication to speed up delivery,” he said. This facility would integrate Korean systems—such as the Integrated Hull Construction, Outfitting, and Painting (IHOP) methodology already adopted by CSL—ensuring precision and scalability.
CSL’s ambitions extend beyond fabrication. The company is contemplating a ?1,500-crore expansion of its ?970-crore International Ship Repair Facility (ISRF) at Willingdon Island, adding up to 10 workstations to the existing six. This would boost its capacity to repair 84 ships annually, reinforcing Kochi’s bid to become South Asia’s largest ship-repair hub, as envisioned by Prime Minister Narendra Modi during his January 2024 visit. Partnerships with reputed overseas firms are under consideration to bring global best practices to this venture.
Additionally, CSL is investing ?35 crore in an Autonomous Surface Vessel (ASV) for defence and civilian use, with partial government funding—an R&D project that could position India as a leader in autonomous maritime technology. These efforts complement CSL’s green shipbuilding focus, with over 50% of its order book comprising eco-friendly vessels like hydrogen fuel cell ferries and electric hybrid ships for clients in Norway, Germany, and India.
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